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Marina For Sale


Jemaki

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This is the first I've  heard of it.We have been there for over  six years.Everyone at the marina are very friendly, and just a great place to be.Since we became owners,most of our time has been at Brundall. Firstly at Eastwood's.Then when it changed hands and became NBS.We briefly went to Greenway Chedgrave .Then a place  came up at Cove.l'm not surprised  I,guess Covid has not helped.I wish him well.

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3 minutes ago, Chelsea14Ian said:

Dont think so Peter.He is a very pleasant  man.Everyone at Cove respects him.As said I said perhaps Covid is a factor.

Ian

He is, don't doubt that, but being at the beck and call of customers seven days a week can and does take it's toll. That aside, Andy at Freedom has stepped away from hiring, pointing out that not every customer is a paragon of virtue. It was that thought that triggered my comment. 

If I were in his position then I would retire and install a manager but I accept that some folk would rather walk away rather than step back. 

Covid, quite possibly, My thought is that it's full impact has yet to be realised.

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I can't fault him. If he installed a manager he would still have ultimate responsibility hanging over him while on the beach somewhere in Barbados. He's had 20 years at it this time, expanded it, and it sounds like he has made a good reputation for himself and the place. I don't know him but I say well done sir! I would have sold up earlier.

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!.5m is a lot of money for what you get. From what I know of the place which isn`t a lot, there isn`t a shed, slipway or crane for pulling boats out so income is restricted to mooring fee`s, Not aware of pump outs, diesel or gas bottle sales either but stand to be corrected.

Might appeal to a boat broker though so if I was moored there I would be looking for an alternative just in case.

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3 hours ago, JennyMorgan said:

He is, don't doubt that, but being at the beck and call of customers seven days a week can and does take it's toll. That aside, Andy at Freedom has stepped away from hiring, pointing out that not every customer is a paragon of virtue. It was that thought that triggered my comment. 

If I were in his position then I would retire and install a manager but I accept that some folk would rather walk away rather than step back. 

Covid, quite possibly, My thought is that it's full impact has yet to be realised.

My immediate thought when I saw this land come up was, can I afford it? Then, how much energy would i need to expend? Then I remembered that my priorities has changed. As for people being paragons of virtue, well, Peter will probably be aware that my biggest problem person was never a customer... I imagine that berth renters would be, in general, a very different bunch.    

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An attractive proposition in the current climate as it isn't relying on other services.

One factor would be the condition of the quay heading and any pontoons.

The return wouldn't be huge but the land value will increase well over time.

 

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Seems on the face of it a good investment , 75 moorings at £54 per foot per year plus vat if you take 30ft as the mean boat length (and I’m certain it would be greater) that gives a income of £121,500 (ex vat) pa plus any income from other services on site if the average boat length were 35ft this would rise to £141,750 , plus an appreciating asset in the land value.

I have no idea of what the operating and upkeep costs are but would be surprised if the annual return were to be less than 6% of the investment and if you can earn 6% net with an asset that is appreciating I don’t think it will be up for sale for too long , if I were a younger man then I would certainly be looking at it .

 

edited to add , I reiterate that I have no actual idea of the operating costs nor the cost of maintenance but there are many on here in a better position to know and with actual experience in running similar operations 

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2 hours ago, FreedomBoatingHols said:

As for people being paragons of virtue, well, Peter will probably be aware that my biggest problem person was never a customer...

Can't possibly think who Andy might mean!!! 

 

1 hour ago, andyg said:

Wonder if two brothers from Wroxham will buy it 😏

Two small but I suspect an existing business in Brundall might be looking to expand.

Whoever, on being bought two things are likely, especially as there is a waiting list, a new name over the gate and a price hike.

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13 minutes ago, Bluebell said:

What about 75 shareholders each with a £20,000 shareholding?

Just a thought...

An interesting thought indeed.. and directed towards this forum...

Equal shares - so at anytime during the year there could be a few people wondering around like they own the place. Policy meetings would be interesting. Easy to find 75 people round here with a spare £20k as we're all loaded but not sure you would get anywhere near that number of people who aren't in a permanent state of conflict with Yare House. Not a basis for a good business model.

And as they say on Dragon's Den: ..And for those reasons, I'm out. :default_hiding::default_gbxhmm:

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21 minutes ago, floydraser said:

An interesting thought indeed.. and directed towards this forum...

Equal shares - so at anytime during the year there could be a few people wondering around like they own the place. Policy meetings would be interesting. Easy to find 75 people round here with a spare £20k as we're all loaded but not sure you would get anywhere near that number of people who aren't in a permanent state of conflict with Yare House. Not a basis for a good business model.

And as they say on Dragon's Den: ..And for those reasons, I'm out. :default_hiding::default_gbxhmm:

Okay just 74 more to go then 😎...:default_jumelles:

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35 minutes ago, floydraser said:

An interesting thought indeed.. and directed towards this forum...

Equal shares - so at anytime during the year there could be a few people wondering around like they own the place. Policy meetings would be interesting. Easy to find 75 people round here with a spare £20k as we're all loaded but not sure you would get anywhere near that number of people who aren't in a permanent state of conflict with Yare House. Not a basis for a good business model.

And as they say on Dragon's Den: ..And for those reasons, I'm out. :default_hiding::default_gbxhmm:

That`s a shame as I had you earmarked for the pumpouts considering your recent experiance with poo pipes  :default_icon_mrgreen: 

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